CONCOR & PSA ink MoU to collaborate in offering seamless, cost-effective end-to-end logistics service
Softlink Global's LogiTHON to recreate the future of logistics industry
Sharp drop in blank sailings
GDP to grow by 6.8 pc in FY25: IMF
Introduction of Online Ship Reporting for the Persian Gulf, Strait of Hormuz, Gulf of Oman, Arabian Sea, Gulf of Aden, Bab al Mandeb Strait, Red Sea, Somali Basin, and Arabian Sea Region
PIL joins DCSA to advance container shipping digitalisation standards
Repercussions on global trade, shipping seen due to Middle East tension
Exporters looking at revising contracts due to current shipping risks
INDIAN PORTS ASSOCIATION
Strike at Gangavaram port impacts operations
Somali pirates release vessel after ransom payment
Container throughput up again at Port of Antwerp-Bruges as total cargo increase shows its resilience despite external challenges
Steerprop selected to supply propulsion packages for Canadian MPVs Canada's Seaspan Shipyards has selected Finnish propulsion system specialist Steerprop to provide a comprehensive Polar Class 4 (PC 4) propulsion package for the first flight of Multi-Purpose Vessels (MPVs) it is building
U.S. Trade Representative to investigate unfair Chinese shipbuilding practices United States Trade Representative Ambassador Katherine Tai has taken up a petition that, among other remedies, seeks to see a port charge imposed on Chinese-built ships calling U.S. ports. As we reported
Thessaloniki Port reports over US$90 million annual revenues Thessaloniki Port Authority S.A. (ThPA S.A.) has released its financial results for the financial year 2023, reporting consolidated revenue of US$92 million, relatively stable compared with the previous year's levels. The container business of the port authority demonstrated significant revenue growth, exceeding 12% to reach US$64 million. Similar growth rates were observed in the real estate sec
Navigating the Seas of Shipping Logistics: Unveiling the Best Software Solutions In the vast ocean of global commerce, efficient shipping logistics software serves as the compass guiding businesses through turbulent waters. From managing inventory to optimizing routes, these tools streamline operations, enhance visibility, and ensure timely delivery of goods. As the demand for seamless supply chain management continues to surge, the quest for the best software solutions inten
Contship Italia unveils strategic investment in La Spezia Container Terminal During a two-day gathering between the Melzo and Spezia offices, Tom Eckelmann, a board member and shareholder of Contship Italia Group, reaffirmed Eurokai's steadfast commitment to bolstering the company's growth amidst significant transformations and development endeavours. Eckelmann conveyed a message of continuity and assurance to senior management and employees, underscoring Contship's pivot
Red Sea disruption pushing up container values and rates Container values have risen significantly across almost all sectors and age categories since the start of the year. Following an extended period of declines, where values fell steadily for this sector after reaching a record peak during the Container boom at the end of Q1 2022. However, since January 2024, values have taken a turn in the opposite direction and older vessels have shown the most st
Port of Rotterdam handles 3.3 million TEUs in 2024 Q1 For the first time in three years, the container segment of the Rotterdam port is experiencing a slight uptick in throughput volumes. There's been a 3.3% increase in tonnes moved, rising from 31.5 million tonnes to 32.5 million tonnes, and a 2% rise in TEUs, reaching 3.3 million TEUs in the first quarter of 2024 at the Dutch port. The situation in the Red Sea resulted in a notable decline in ship
Hapag-Lloyd boosts rates from Far East to Europe Hamburg-based container line Hapag-Lloyd has announced increased ocean tariff rates for Freight All Kinds (FAK) between Far East and North Europe as well as the Mediterranean. The increase applies for cargo transported in 20' and 40' dry containers, including high cube equipment, and reefer for sailings commencing on 1 May. Destination 20' Dry 40' Dry 40' HC 20' RF 40' RF North Europe* US$1,650 U
NWSA container volumes rise in March March saw Northwest Seaport Alliance's (NWSA) container volumes reaching 261,495 TEUs, marking an 8.5% growth over the same month in 2023. Year-to-date volume comparisons indicate a 2.9% increase to 699,382 TEUs, with full imports rising by 5.6% and full exports by 14.8%. Moreover, full international exports extended a growth streak for the seventh consecutive month, rising by 15.6% compared to M
PIL joins DCSA to proceed with shipping digitalisation standards Singaporean box carrier Pacific International Lines (PIL) has joined the non-profit organisation, Digital Container Shipping Association (DCSA), to drive standardisation and digital innovation in the container shipping industry. DCSA's founding members consist of 9 of the 10 largest container shipping companies worldwide and represent approximately 70% of global container trade. The association w
Sea-Intelligence reports sharp drop in blank sailings Spot rates have experienced a continuous decline over the past several months. In response, shipping lines face two possible strategies. One option is to increase blank sailings, reducing supply and halting the decline in spot rates. The other would be that despite the decline, spot rates are still much higher than before the Red Sea crisis and the pre-pandemic levels, which would potentially inc
Port of Los Angeles surpasses 740,000 TEUs in March In March, the Port of Los Angeles saw a remarkable surge, handling 743,417 container units, marking a 19% increase compared to the same month in the previous year. This achievement marked the eighth consecutive month of year-over-year growth at the busiest port in the United States. During the first quarter ending on 31 March, local dockworkers facilitated the movement of 2,380,503 TEUs across Lo
Port of Brunswick handles over 77,000 Ro/Ro units in March In March, Colonel's Island Terminal at the Port of Brunswick maintained its remarkable performance, processing 77,236 units of Roll-on/Roll-off cargo. This marks a notable uptick of 13,438 units or 21% compared to the corresponding period last year. "March was the busiest month ever for Ro/Ro cargo in Brunswick, with organic growth and new customers driving increases in both autos and high and he
Heidmar takes over Landbridge Ship Management Athens-based pool operator and shipmanager Heidmar is expanding its operation with the addition of Landbridge Ship Management in Hong Kong. The move will see the Pankaj Khanna-led outfit with over 60 tankers and bulkers under commercial management expand its offering to include technical shipmanagement. "By integrating technical management into its portfolio, Heidmar aims to streamline ...
Stena Bulk clears out last LNG carrier Swedish shipowner Stena Bulk has sold off its last remaining LNG carrier to an undisclosed Asian buyer. The Erik Hånell-led company said it handed over the 145,000 cu m Stena Blue Sky in Singapore on Thursday. No price was revealed. The sale of the 2006-built unit comes hot on the heels of the exit of ...
Euroseas fixes out one feeder boxship and sells another Nasdaq-listed Greek boxship owner Euroseas has fixed a time charter contract for a feeder boxship. It also agreed to sell one such vessel to an undisclosed buyer. The charter was signed for the 1,740 teu feeder EM Hydra for a minimum period of ten to a maximum period of twelve months at the option of ...
BSM focuses on practice with new maritime education programme Aiming to close what it sees as a gap between academic knowledge and practical training, Bernhard Schulte Shipmanagement (BSM) has introduced a new educational programme for future seafarers. According to BSM, the global merchant fleet will face a shortage of thousands of officers in the coming years. The education programme, named BSM Smart Academy, is ...
Petrofac bags $350m services deal in Equatorial Guinea Offshore engineering specialist Petrofac has been awarded a technical services contract by Equatorial Guinea's national oil company GEPetrol to support operations on the region's offshore Block B. Under the contract, valued at around $350m over five years, Petrofac will deliver technical services across onshore support bases, an FPSO, and an offshore platform. The contract includes ...
Diplomatic campaign underway to crack down on Russian tankers passing through the Baltic Littoral states around the Baltic are waging a diplomatic campaign to get other countries to back a greater crackdown on Russia's shadow fleet passing through the region, concerned about the potential for environmental catastrophe with a number of near disasters reported among the ageing fleet of tankers over the past year. Foreign ministers from the ...
Singapore yard loses drilling rigs-related arbitration against Akastor unit Singapore's Jurong Shipyard, a subsidiary of Seatrium, has lost an arbitration over the termination of drilling equipment contracts related to four offshore rigs. MHWirth, a unit of Norwegian oil-services investment company Akastor, has been awarded around $101.3m by the Singapore International Arbitration Centre (SIAC) as payment of termination fees. The contracts dating back to 2012 ...
Germany's HGK lays out new concept for shipping ammonia and CO2 on inland waterways Germany's HGK Shipping, one of the top inland shipping names, has revealed plans to build a new type of liquified ammonia and carbon dioxide (LCO2) carrier for Europe's waterways. Part of Häfen und Güterverkehr Köln, the company that owns and operates around 350 inland vessels, said it has developed a concept that will enable it ...
Geneva Dry Dialogues: AXSMarine In two weeks' today Geneva Dry, dry bulk's annual get-together, will start with an entire afternoon dedicated to all things digital. AXSMarine, one of the big beasts in maritime tech, is sending a sizeable delegation to Geneva, aware, but not overly concerned, about the growing number of vendors in domains it has operated in since ...
Transocean picks up extensions for drillship pair Offshore drilling giant Transocean has secured more work for its drillships in the US Gulf of Mexico and Angola. The New York-listed contractor revealed in its latest fleet status report that an undisclosed client in the US Gulf had extended the contract for the Deepwater Invictus into July this year. The 2014-built drillship was fixed ...
SBM Offshore secures $250m FPSO construction loan Dutch floater expert SBM Offshore has secured a $250m term loan facility for floating production, storage and offloading (FPSO) vessel construction financing. SBM said that the facility will be drawn in full in the coming days. The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is ...
DEME wins cable installation work for two Dutch offshore grid systems Belgian marine contractor DEME has been awarded two contracts by cable solutions provider Prysmian for the engineering and installation works on two offshore grid systems in the Netherlands. The contract for the work on the IJmuiden Ver Alpha and Nederwiek 1 offshore grid systems is the most extensive cabling award in DEME's history. Prysmian won ...
LR2s are star performers in the tanker sector this year LR2s have been the strongest performing asset class in tankers in 2024 so far with a year-to-date average of $68,000 a day and a rate bracket ranging from $40,000 a day to $100,000 a day, according to new analysis from Jefferies, an investment bank. This compares to the $40,000 a day average seen during the ...
US probes Chinese shipbuilding pricing The US presidential elections this year have a strong anti-China current with both candidates vowing to get tough with Beijing. Speaking in Pittsburgh to a steelmaking union yesterday, President Joe Biden announced plans to triple the tariff rate on steel and aluminum imports from China while the US Trade Representative has also launched an investigation ...
Venezuela sanctions return The Biden administration has reimposed oil sanctions on Venezuela, hitting out at President Nicolás Maduro for failing to follow a greater democratic path for the South American nation. American companies with investments in Venezuela have 45 days to wind down operations. Last October, Washington issued a six-month general licence for transactions involving Venezuela's oil and ...
Sanctions shuffle begins anew for Venezuela's tanker trades Venezuelan crude exports that previously went to India could head to China instead. Products imports that previously came from the...
Russia 'doesn't care' about oil spills, Swedish foreign minister warns A casualty involving a dark fleet tanker could be extremely costly, and salvors are concerned about who will pick up...
Eswatini shipping registry flagged as 'false' operation by IMO The opaque status of government authorisation for the start-up flag registry of Eswatini has prompted the International Maritime Organization to...
LA's Seroka optimistic as US economy 'keeps on cooking' The port of Los Angeles had its best first quarter outside of the pandemic as strong consumer demand buoyed imports...
LNG carriers would lose but VLGCs could gain in Hormuz closure scenario Oystein Kalleklev, CEO of Avance Gas and Flex LNG, speaks in-depth on geopolitical risk, the Panama Canal and market trends...
WSC sets out its European policy priorities The European Union will launch its new five-year legislative programme this year. Container line shipping is already getting its policy...
Chemical tanker with flammable cargo runs aground off Japan The casualty comes a month after another Keoyoung Shipping Co tanker, Keoyoung Sun, capsized in a storm off Japan
D'Amico pens first newbuilding contract in China Milan-listed d'Amico International Shipping has initiated its first newbuilding programme since 2015 with an order at Jiangsu New Yangzi Shipbuilding...
Rotterdam sees slow growth on Red Sea disruption Schedule disruption slowed growth in Rotterdam during the first quarter. But March saw a return to form and a boost...
World's largest hydrogen ships ordered in Norway The ships have been ordered by transport company Torghatten and will be built in Norwegian yard Myklebust Verft
Thessaloniki port reports record container throughput Thessaloniki Port Authority board announces preferred bidder for key Pier 6 expansion
Shipowners reaffirm sector's commitment to net zero Funds from EU emissions trading scheme to help shipping decarbonise are 'essential', according to Ecsa president Karin Orsel
Daily Briefing How could Middle East crisis play out for tanker exchange-traded fund? | No evidence more Chinese or Russian ships transiting...
Shippers putting 'greater-than-expected pressure' on freight rates: Knight-Swift Knight-Swift and rival J.B. Hunt both say shippers are pushing hard for lower truckload and intermodal rates in service contracts as freight demand remains soft.
Penske AI tool aims to help shippers manage, benchmark private fleets A machine learning-based platform will access data on more than 400,000 vehicles to help shippers evaluate the performance and cost of in-house trucking operations.
Rotterdam edges rival Antwerp in long-awaited return to volume growth Rotterdam attributed its first quarter gains to recovering Asia imports in March and a jump in feeder traffic between the port and the Mediterranean linked to vessel diversions around southern Africa.
WSC urges EU to enhance focus on shipping decarbonization after June elections The World Shipping Council said in a new report it wants Brussels to design policy frameworks "that facilitate the essential role of shipping in a globally connected economy."
US sanctions aggression pushes companies to widen compliance scope As more sanctions loom, owners and others need to be aware of their entire supply chain, attorney says
Shipping mourns loss of veteran Heidmar and Penfield finance chief Charles Tammara Finance man's long career spanned stints at Penfield Marine, Heidmar, B + H Group and OMI Corp
UK blacklists Iranian naval force behind Strait of Hormuz container ship seizure Joint US-UK moves target military and drone industries in response to missile attack on Israel
Pacific Basin Shipping kickstarts $40m share buyback scheme Owner-operator's freight earnings during the first quarter were weaker than last year
Euroseas cashes in on rising container ship values with chunky profit on feeder sale Aristides Pittas-led boxship owner nets $5.5m profit from sale of 2,788-teu vessel
Norden exodus extends with further resignations at Danish heavyweight There have been further departures at the Danish owner-operator after March walkout
Suspected spy ship reappears in Iran after months stalking Gulf of Aden MPP vessel was said to be feeding information to Houthis on which ships to attack
Vietnamese buyer dives in to buy Stena Bulk LNG steamship Strong price rumoured paid as Swedish owner clears out last remaining LNG carrier
Why Hapag-Lloyd boss Rolf Habben Jansen embraces the looming tsunami of new container ships The doomsayers are wrong and carriers might be glad of the next wave of newbuildings
'Russia doesn't care' about shadow fleet oil spill risk, says Sweden's foreign minister Tobias Billstrom calls for restrictions on the Russian shadow fleet - but previous calls for action have come to little
Shipowners' Club reports profit despite significant tanker oil spill Improved investments and increased tonnage underpin P&I club's strong showing
George Logothetis-led Libra's space spin-off buys ground station Libra Group's SLI aims for further lift-off with Swedish deal
Crew from 'dark' PSV go on trial in Spain accused of drug-smuggling A total of 28 people stand accused of trafficking 3.8 tonnes of cocaine on the Karar in 2020
Shipowner George Procopiou taps VLCC resale market for first time in almost a decade Greek shipowner takes over pair of VLCC newbuildings in China
LNG shipping action tips upwards as charterers eye multi-month action But first-quarter figures show 'sluggish' vessel demand and flood of open spot tonnage
Saevik family opens chequebook for $78m in financing for cruise shipowner Havila Kystruten Package from Norwegian family allows shipowner to repay bond debt
Ciner extends $900m bulker newbuilding drive backed by Chinese war chest Expansion efforts boost Vasileios Papakalodoukas-managed firm to become Turkey's top bulker owner
Tanker with flammable chemical cargo runs aground on Japanese reef Keoyoung Pioneer stranded off Japan with crew of 14
Singapore-US green corridor could create 700 jobs in green fuels, study finds Report says wider collaboration with intermediary ports should be investigated to develop alternative fuel capacity
Electric shock likely killed seafarer on Stena Line ferry Faulty electrical work probably led to loss of engineer on Stena Line ship, Swedish report finds
'Ball of confusion': Israel spoofed shipping data to foil Iran missile attack Analysts at Geollect believe Israel is likely to have manipulated data to confuse drones
It's official: Venezuelan oil back on US blacklist With tepid production figures, the reimposition of sanctions is not expected to hit tanker markets hard
Flex LNG bosses exercise options to cash in stock worth $3.3m CEO Oystein Kalleklev sells 87,500 shares at $25 a piece
'We are a long way from it being safe': Shipowners size up return to 'treacherous' Red Sea Anthony Gurnee, Lois Zabrocky and Robert Bugbee reflect on impact of escalating geopolitical tensions
BW LPG banks $32m profit as gas trading division proves a 'solid investment' VLGC owner says derivative gains also boosting earnings at BW Product Services
Iran claims rescue of 21 seafarers from capsized tanker caught in Hormuz storm Cook Islands-flag vessel was foundering off port of Bandar-e-Jask, maritime rescue service reported
'New chapter': BW LPG chief eyes boost as US listing opens door to world's largest capital market CEO Kristian Sorensen says shares should start trading in New York this quarter
Podcast: Ship managers see opportunities in EU emissions trading complexity Brussels carbon rules can be daunting for shipowners, so third-party managers aim to provide roadmap
European grain trades are being redrawn as farmers go straight to market Copenhagen Merchants Group told TradeWinds its Baltic clients are sidestepping commodity traders
Nordic banking giant Nordea's shipping loan book shrinks in first quarter Nordea saw lower utilisation of shipping clients' revolving credit facilities
Awilco LNG takes long view as 2026 shows fewer LNG carriers available Norwegian owner expects charter rates to come under short-term pressure, but further out the picture is rosier
MPA receives 50 proposals to supply methanol bunkers in Singapore Regulator says response indicates shipping is preparing for methanol bunker demand to scale up
Greek broker Optima says a big 'kalimera' to Singapore with opening of new office S&P broking giant wants to link the world's leading maritime city with the biggest shipowning nation
New York shipowners roll out the red carpet for John Fredriksen and Andreas Sohmen-Pao International Seaways and Dorian LPG have different reasons for inviting major shipowners into their backyard
Kramek prepares to lead World Shipping Council The World Shipping Council has named Joe Kramek its next president and CEO. He will replace John Butler, who plans to retire in July.
Baltimore bridge collapse: Fourth victim recovered, FBI boards cargo ship Crews recovered the body of a fourth victim this week who died after the Francis Scott Key Bridge collapsed when it was struck by the Dali, a cargo ship just minutes into its voyage.
Asia Pacific Airlines on notice for $2.9 million FAA fine The Federal Aviation Administration has warned a cargo airline that supports the Pacific Islands that it plans to fine it $2.9 million for poor safety compliance.
United Airlines sets bar for Q1 cargo performance United Airlines nearly closed the year-over-year gap in cargo revenue during the first quarter as the air logistics sector shakes off a lengthy slump.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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